4.0. SR 09-23-1996~ty of
ITEM 4.
iver
FROM:
DATE:
MEMORANDUM
Mayor & City Council
Lori Johnson, Asst. City Administrator/
Finance Director
September 23, 1996
SUBJECT: Insurance Renewals
The City's property, liability, worker's compensation, boiler and machinery,
and related insurance policies are up for renewal on October 1. As in the
past, Dan Greene of First National Insurance Agency has been working on
the City's behalf to solicit quotes for coverage. Again this year all companies
have declined to quote with the exception of the League of Minnesota Cities
Insurance Trust. In addition, this year the information necessary to solicit a
quote was provided to Northern Capital Insurance of Minneapolis. Although
the representative stated that there were two new insurance carriers now
writing city policies who would be very interested in providing coverage,
Northern Capital Insurance did not follow through with a quote. The most
likely reasons that the new carriers were not willing to quote are that they
could not cover some of the unique areas we need to cover such as the beach
and the dam or their rates could not complete with the League's rates.
Unfortunately, the League has been very slow in getting a quote to us for
review prior to the meeting. Although some of the information was received
from the League late Thursday, there was not adequate time to review and
prepare the information for inclusion in the packets. Dan and I will be
present on Monday to discuss all of the policies and provide written materials
as necessary.
13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425
145 University Avenue liT. st, St. Pau], bin 55103-2044
Pl,.ne: (612) 281-1200 · (800) 925-1122
Fax: (612) 281-1299 · TI)I) (612) 281.1290
Dan or Sandy Greene
First National Insurance
716 Main St., Suit, 107
Elk Riv~', MN 55330
Date: September 19, 1996
Re: City of Elk River
Eft. Date: 10/!/96
RENI~WAL PREMIUM SUMMARY AND BINDER 96-97
95-96 94-95
PROPERTY - 6% INCREASE $18,876. $20,060. $21,048
MOBILE EQUIPMENT ' 3,308. 2,757. 2,996.
MUNICIPAL LIABILITY 117,734. 110,450. 117,076.
AUTOMOBILE LIABILITY 15,160. 15,923. 18,804.
AUTOMOBILE PHYSICAL DAMAGE 10,169. 8,410. ~' 7,439.
MONEY & THEFT 162. 162. 180.
EMPLOYEE DISHONESTY 1,194. 1,194. 1,142.
OPEN MEETING LAW 500. 1,837. 1,756.
BOILER & MACHINERY 31,461. 27,871. 26,537.
PERTOFUND REIMBURSEMENT 696. 696. 696.
TOTAL
$199,260. $189,360. $197,674.
'City'
ELK RIVER, ELK RIVER UTILITIES,
PO BOX 490, 13065 ORONO PARKWAY
· ELK RIVER MN 55330-0490
League of Minnesota Cities Insurance Trust
Group Self-Insured Workers' Compensation Plan
Workers' Compensation and Employers' Liability Agreement
Admini~trator .. . .~..
HR~ & ED~ ~GREEHENT
REMUNERAT I ON RATE
849650. ~,~' 4.86 r~,~ ~ 5506
77850. %,n; 3.86 ~,0~ 7580
9;0_606573. ~ ~&4
O~ -178580. ~,~3
o 5a8oo. q,qO 4
POP 13286.6%~44
IlOcJO°°-1073900. q,~ ~ 3
/&q'9~-175000.
/o ~3oo - 53630.
9 ~¢~-o-818458.
9~ o-85700.
~ 8 7oa-~900.
0 40500.
CONTINUATION SCHEDULE FOR QUOTATION PAGE
.00 ~,9 3 7539
.95 ~,~ 7580
.77 7706
.18&~9 ~.7708
.53 5, ~ %7780
DESCRIPTION
STREET CONSTRUCTION & MAINTENANCE
WATERWORKS
ELECTRIC & STEAM PLANT
SEWAGE DISPOSAL PLANT
FIREFIGHTERS (NOT VOLUNTEER)
FIREFIGHTERS (VOLUNTEER)
POLICE
OFF SALE LIQUOR STORE
CITY SHOP & YARD
CLERICAL
PARKS
MUNICIPAL EMPLOYEES
ELECTED:OR APPOINTED OFFICIALS
POLICE RESERVES
EST. PREM,
18133.
8988.
84863.
6817.
8519.
5870.
3790~.
2660.
2483.
3575.
2365.
~53~.
80~.
1430.
Manual Premium
109745.
F-416081790
FIRST NATL INS AGCY
716 MAIN ST STE 107
ELK RIVER~MN
55330
BA 468 (3/92) Date: 08/31 / 1996
Group Self-Insured Workers' Compensation Plan
Administrator
Berkley Administrators
a mem~r of ~ Berkley Risk Mar{agement Services GrOup .'. !'.i~ .~,.'..: .
(RENEN~L of ~greemen~ No, 0~-0005[3-[0)
ELK R[VER~ ELK RIVER UT[L[T[ES~ HR~ & ED~
1010111995
10/01/1997
ESTIMATED DEPOSIT
CODE RATE PAYROLL PREMIUM
SEE ATTACHED SCHEDULE FOR DETAILS
Manual Premium 15)t)~ 109745.
Experience Modification 0.81 · ~
Standard ~_~.emium ~1,99~ 888~3.
Managed C~ ~'~'~ I0.00~ ~ 9~W 888~.
Deductible Credit t~ 0% }~ 4f~ /~0.
Premium Discount
Discounted Standard Premium
Insurance Trust Discount O~
Net Deposit Premium
LMC
7970.
78034.
O.
The foregoing quotation is for a deposit premium based on your estimate of payroll. Your final actual
premium will be computed after an audit of payroll subsequent to the close of your agreement year and
will be subject to revisions in rates, payrolls and experience modification. While you are a member of
the LMCIT Workers' Compensation Plan, you will be eligible to participate in distributions from the
Trust based upon claims experience and earnings of the Trust.
If you desire the coverage offered above, please complete the enclosed "Application for Coverage" and
return it and your check for the deposit premium (made payable to the LMC Insurance Trust) to the Plan
Administrator, Berkley Administrators.
BA 441CG (12/92)